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or as the fiscal cliff comes nearer and the u.s. goes over it. >> can we expect any other lawmakers to step up to the plate and kick start negotiations? what about senate minority leader mitch mcconnell? >> well, the thing at this point and i'm told by sources is that there are no negotiations going on between senator mitch mcconnell, the republican leader in the senate, and senator majority leader harry reid in hawaii for the funeral of daniel inouye and is now back to washington. it would come down to the senate doing something. senator mcconnell might allow this bill i mentioned that i already passed in july, was a threshold for tax hikes, being at the $250,000 level, he may allow democrats to say, the house has to take this, or if there is some sort of vote on another measure, while mitch mcconnell would be unlikely to support it, perhaps he might let some of his republican senators do that, now, this is sort of thinking, coming from democrats, this is not something that mitch mcconnell at this point is planning to do, and it's
or as the fiscal cliff comes nearer and the u.s. goes over it. >> can we expect any other lawmakers to step up to the plate and kick start negotiations? what about senate minority leader mitch mcconnell? >> well, the thing at this point and i'm told by sources is that there are no negotiations going on between senator mitch mcconnell, the republican leader in the senate, and senator majority leader harry reid in hawaii for the funeral of daniel inouye and is now back to washington....
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Dec 24, 2012
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. >>> is congress ready to do a thelma and louise and plunge over the fiscal cliff? some lawmakers sounded gloomy about any chances for a compromise deal. >> passing pln b would not have changed the outcome. we would have gone over the cliff before, we will go over the cliff now because it's what the president wants. you can't negotiate with someone who does not want to negotiate. >> in the aftermath of the house republicans rejecting speaker boehner aers so-called plan "b," it's the first time i feel like we will more likely go over the cliff than not, and if we allow that to happen, it will be the most colossal consequential act of congressional irresponsibility in a long time, maybe ever in american history. >> nine days remain to get a deal done. lawmakers are home for the holidays. house speaker boehner is in ohio. president obama as reported is in his native hawaii. before leaving washington, president obama urged congress to pass a mini plan that would preserve middle class tax rates. brianna keilar joins us live from hawaii. what do we think will happen as th
. >>> is congress ready to do a thelma and louise and plunge over the fiscal cliff? some lawmakers sounded gloomy about any chances for a compromise deal. >> passing pln b would not have changed the outcome. we would have gone over the cliff before, we will go over the cliff now because it's what the president wants. you can't negotiate with someone who does not want to negotiate. >> in the aftermath of the house republicans rejecting speaker boehner aers so-called plan...
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Dec 24, 2012
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it is called the fiscal cliff. for that reason. a plan to stop it all from happening still eludes washington. so congress has broken camp for the holidays, the president has gone to hawaii on vacation. white house correspondent brianna keilar tells us no one is really talking, anyone, to get this solved. at least not here at christmas. >> reporter: senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously because in order to avoid the fiscal cliff, you would need to find some sort of deal that would make it through the senate and the house and that would mean democratic and republican support. right now, all eyes on the senate because they will reconvene on the 27th that is thursday. and senate majority leader harry reid, it is up to him really to cobble together something that can get some of that support. right now the white house is still supporting a threshold of $250,000 back to their initial starting point for tax rates going up for those making mo
it is called the fiscal cliff. for that reason. a plan to stop it all from happening still eludes washington. so congress has broken camp for the holidays, the president has gone to hawaii on vacation. white house correspondent brianna keilar tells us no one is really talking, anyone, to get this solved. at least not here at christmas. >> reporter: senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously...
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apparently a fiscal cliff solution is not wrapped up as a gift under your christmas tree. lawmakers are home for the holidays. house speaker john boehner is in ohio, president obama is in his native hawaii. you'll hear about a last ditch effort that may happen after the holiday. that story just a few moments away here as well. >>> a united states senator was arrested for drunk driving early sunday morning. idaho republican mike crapo was taken to jail in alexandria, virginia, after midnight. he was stopped for running a red light and charged with driving under the influence. senator crapo has issued an apology. he was released on $1,000 bond and he has a court date. >>> christmas, two days away, and for much of the country it's going to be a white one. heavy snowfall has blanketed several states, in the mountains of california up to five feet of snow is expected. snow is also falling back east as well. lake-effect snow has blanketed areas around cleveland and buffalo. high winds are threatening to delay flights at airports in new york, philadelphia and washington. >>> i ha
apparently a fiscal cliff solution is not wrapped up as a gift under your christmas tree. lawmakers are home for the holidays. house speaker john boehner is in ohio, president obama is in his native hawaii. you'll hear about a last ditch effort that may happen after the holiday. that story just a few moments away here as well. >>> a united states senator was arrested for drunk driving early sunday morning. idaho republican mike crapo was taken to jail in alexandria, virginia, after...
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it appears those spending cuts that are the other part of the fiscal cliff will likely set in. and then what happens there will maybe be something that democrats and republicans try to deal with in the coming weeks, in the coming months. that means even come say the end of the year here or if we go over the cliff and there's some quick resolution, it's not for everything and we'll be dealing with a lot of these problems for some time, carol. >> what's the president doing in hawaii? >> reporter: the president has been getting in some r and r. he arrived saturday morning. he played golf with some of his buddies. he wept outer with his wife. yesterday he attended the ceremony for senator daniel inn way. and then he went for a hike in the afternoon with his daughters. this may be his one chance for a vacation and you may recall he didn't get one this summer. he decided not to go on his normal vacation in the election year. so this is really it for him. >> brianna keilar, thank you. >>> the gun control debate is intensifying. the nra's executive vice president made the circuit on su
it appears those spending cuts that are the other part of the fiscal cliff will likely set in. and then what happens there will maybe be something that democrats and republicans try to deal with in the coming weeks, in the coming months. that means even come say the end of the year here or if we go over the cliff and there's some quick resolution, it's not for everything and we'll be dealing with a lot of these problems for some time, carol. >> what's the president doing in hawaii?...
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our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of republicans to cross party lines and vote with them on the whole concept of raising any taxes. especially what the president wants which is something that is raising taxes on all americans making more than $250,000. that's the senate. never mind the house, which of course, made clear to the house speaker that they won't even go for something that's a million dollars or more when it comes to tax increases. that was last week. >> dana, you were saying that when you were reporting on it when it was breaking that evening, you called that devastating for john boehner. now that hou
our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of...
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Dec 24, 2012
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we know the stocks are down, fiscal cliff. talk about what we think that means for us if we end up going over the fiscal cliff and you're looking at a lot of tax hikes as well as spending cuts. >> yeah. you have to believe if we go over the cliff that some sort of deal will happen up. if not within the first couple days of year, maybe the first couple weeks. what may happen is an impact right away to your paychecks in the early weeks of the new year. here is an idea of what we're in for anyway. we're going to see a lot of tax changes. payroll tax holiday. that would expire, and that means that the amount taken out of your paycheck would go from 4.2% to 6.2%, so that means if you're making $50,000 a year, it means $83 a month comes out of your paycheck. over the cliff it means you have a delay in tax refunds for the 2012 returns and that's because there's yet to be a decision made. also at stake, spending cuts. that can impact jobs. there will be big cuts to defense. that could put about 300,000 jobs at risk. unemployment benef
we know the stocks are down, fiscal cliff. talk about what we think that means for us if we end up going over the fiscal cliff and you're looking at a lot of tax hikes as well as spending cuts. >> yeah. you have to believe if we go over the cliff that some sort of deal will happen up. if not within the first couple days of year, maybe the first couple weeks. what may happen is an impact right away to your paychecks in the early weeks of the new year. here is an idea of what we're in for...
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the fiscal cliff negotiations. if no deal is reached in one week, the tax cuts enacted under president bush will expire and 1.2 trillion in spending cuts will automatically go into effect. if we do go over the fiscal cliff, how will it affect you from your paycheck to your retirement accounts? we're going to give you all the tips you need to protect yourself. here to do that this morning is ry ryan mac, president of opt middle school management. >> kudos for being able to pronounce that honolulu merry christmas saying. >> i don't think i can do it again. ahah! let's start with your paycheck as it applies to the fiscal cliff. if we go off the fiscal live how will mooirn and everybody's paycheck be affected? the majority of the paycheck won't be afeektded until 2014 when people file for 2013 stackses. there are certain things that are impacted right away like the payroll tax cut. for individuals earning about $50,000 a year, they'll be having to pay about $85 less because of the payroll tax cut will be expiring so th
the fiscal cliff negotiations. if no deal is reached in one week, the tax cuts enacted under president bush will expire and 1.2 trillion in spending cuts will automatically go into effect. if we do go over the fiscal cliff, how will it affect you from your paycheck to your retirement accounts? we're going to give you all the tips you need to protect yourself. here to do that this morning is ry ryan mac, president of opt middle school management. >> kudos for being able to pronounce that...
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Dec 26, 2012
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every day we're taking a look at how the fiscal cliff if we go off the fiscal cliff how that will affect you from the increase in your tax bill to planning for your retirement. today we'll focus on your portfolio. ryan mack joins me via skype from detroit. >> good morning to you, how are you doing today? >> i'm good. you've got some advice for people to manage their portfolios, let's start with the first step you need to review your asset classes. >> there's a study in the '80s simply says over 95% of your portfolio return will determine exactly how you choose the mixture of stocks and other investments you have in your portfolio. with the assistance of a qualified adviser making sure you have the right mixture of stocks can be ever so crucial especially during the volatile time we see in the markets today. >> if you make any changes i guess you have to take into account what your tolerance is for risk. >> yes. i mean look, we've seen the markets going crazy right now, a lot of individuals are looking up and downs and a lot of things we're telling the folks we work with, let's look at it
every day we're taking a look at how the fiscal cliff if we go off the fiscal cliff how that will affect you from the increase in your tax bill to planning for your retirement. today we'll focus on your portfolio. ryan mack joins me via skype from detroit. >> good morning to you, how are you doing today? >> i'm good. you've got some advice for people to manage their portfolios, let's start with the first step you need to review your asset classes. >> there's a study in the...
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if nothing is done to avert the fiscal cliff. if you make $104,000, doing pretty well, you see your taxes go up $6200. if you make $400,000 a year, you see taxes go up over $9,000. that's overnight. the bush tax cuts sunset if we don't do anything to variety the fiscal cliff. this is something that the president and republicans agree on. they agree 98% of the americans shouldn't have taxes raised, but that 2% disagreement brings us to the edge of the fiscal cliff. >> the ceo of starbucks says, hey, you know what? let's write on our coffee cups "come together." do you think anybody will pay attention to that in washdz? >> you know what? anything and everything helps. just merely spreading the message america is watching and waiting for congress to act to find a way to reason together, that's an important act, and everyone doing their part can do, i say good on him. we need to send this message to washington and make sure it isn't settled. we'll go deeper into this tonight at 7:00 as well. this is urnlggent. the clock is ticking, s
if nothing is done to avert the fiscal cliff. if you make $104,000, doing pretty well, you see your taxes go up $6200. if you make $400,000 a year, you see taxes go up over $9,000. that's overnight. the bush tax cuts sunset if we don't do anything to variety the fiscal cliff. this is something that the president and republicans agree on. they agree 98% of the americans shouldn't have taxes raised, but that 2% disagreement brings us to the edge of the fiscal cliff. >> the ceo of starbucks...
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fiscal cliff. es it d to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first full prescription free and save on refills at advaircopd.com. with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymbalta
fiscal cliff. es it d to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher...
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thank you. >>> coming up next, the fiscal cliff. we're close enough now to peek over the edge of that cliff. insiders say buckle up and prepare for the worst. ♪ ooh baby, looks like you need a little help there ♪ ♪ ooh baby, can i do for you today? ♪ [ female announcer ] need help keeping your digestive balance? align can help. only align has bifantis, a patented probiotic that naturally helps maintain your digestive balance. try align to help retain a balanced digestive system. try the #1 gastroenterologist recommended probiotic. align. >>> we are so close to the fiscal cliff right now we can pra practically look over the edge. in fact, some people are saying it might even be too late for a deal and we'll go over that cliff. harry reid just took to the senate floor 30 minutes ago to say he thinks it's likely we're going to go over the cliff. republicans like house speaker john boehner and mitch mcconnell have been radio silent on negotiations. joining me is will kain and roland martin, a political analyst and columnist. wel
thank you. >>> coming up next, the fiscal cliff. we're close enough now to peek over the edge of that cliff. insiders say buckle up and prepare for the worst. ♪ ooh baby, looks like you need a little help there ♪ ♪ ooh baby, can i do for you today? ♪ [ female announcer ] need help keeping your digestive balance? align can help. only align has bifantis, a patented probiotic that naturally helps maintain your digestive balance. try align to help retain a balanced digestive...
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>> i think you have to look at this more than as a fiscal cliff but as a fiscal slide. what we're doing is we're beginning a slide and we're going to slide slowly if we don't do something by february we'll have a debt limit crisis that will also cause us so accelerate and reduce the confidence in the united states of america, which is something we should not allow to have happ happen. by march, all of a sudden there will be a payroll in tax increases in terms of what people have to pay whether it's estimated taxes or if your payroll, all these things will make it more difficult. we'll watch declining effort. this is not the same level as what the euro crisis is. the euro crisis is something that's not in the european's control as much as they'd like. it's in the control of congress, in control of the president. this is something we can fix if we want to. we have to get the political will and financial will to do so. >> but you mention the euro crisis and we're not there yet, but the big question is, can we get there? >> if this goes on until the end of the year, the end
>> i think you have to look at this more than as a fiscal cliff but as a fiscal slide. what we're doing is we're beginning a slide and we're going to slide slowly if we don't do something by february we'll have a debt limit crisis that will also cause us so accelerate and reduce the confidence in the united states of america, which is something we should not allow to have happ happen. by march, all of a sudden there will be a payroll in tax increases in terms of what people have to pay...
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congress over the fiscal cliff could be settled if. that's what he's really saying in this press conference in damascus. the elements are there under plan world powers agreed to back in jeune. but, of course, getting agreement if there fr. the assad side and the rebels the and the government, that's a tall order. he's an experienced negotiator. there seems to be some momentum with a flurry of talks and shuttle-type dip ploemmy but he still said and lamented syria is deteriorating rapidly. and as he said there's no u.s./russian plan. there may be discussions on options. can will there a transitional government formed and then elections but we're still not at that stage yet, suzanne. >> do we think he's bringing anything to the table that kofi annan did not who failed in brings these sides together? >> yes. and in failed, it may be a matter of timing. certainly the matter of violence has an eastbound. 40,000 report lid dead. brahimi has not had that success either but he's plugging away. he's been the man in the field from the u.n. from
congress over the fiscal cliff could be settled if. that's what he's really saying in this press conference in damascus. the elements are there under plan world powers agreed to back in jeune. but, of course, getting agreement if there fr. the assad side and the rebels the and the government, that's a tall order. he's an experienced negotiator. there seems to be some momentum with a flurry of talks and shuttle-type dip ploemmy but he still said and lamented syria is deteriorating rapidly. and...
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that would not happen if the fiscal cliff comes. they wouldn't be able to keep up with the work load. and there would be unexpected higher taxes for most americans because, remember, that's another part of the equation. so many different groups could be hit in many different ways at many times, but the bottom line is if these negotiations continue to stall and don't come through, and the cliff comes, people will indeed feel it all over this country. >> all right, tom foreman, that was cnn's tom foreman in washington. as we await this 3:00 p.m. meeting at the white house, an attempt to reach an agreement before we hit the fiscal cliff on tuesday. stay tuned. >>> one-two weather punch, a massive storm causing huge problems since christmas day finally over. but another is on the way. chad myers is tracking this latest storm for us. heart break for dozens of american families in the process of adopting children from russia as russia's president signs an adoption ban. stop! stop! stop! come back here! humans -- we are beautifully imperfe
that would not happen if the fiscal cliff comes. they wouldn't be able to keep up with the work load. and there would be unexpected higher taxes for most americans because, remember, that's another part of the equation. so many different groups could be hit in many different ways at many times, but the bottom line is if these negotiations continue to stall and don't come through, and the cliff comes, people will indeed feel it all over this country. >> all right, tom foreman, that was...
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cliff, which is the biggest portion of the fiscal cliff. the president has put many proposals on the table, as you know. speaker boehner walked away from the last proposal. hopefully this time will be different. the speaker has to allow the house to work its will, to have a majority vote here. he's not allowed us to have a vote on a senate-passed bill. hopefully he'll allow us to have an up or down vote on whatever comes out of this meet pg. >> now the ball is in the senate's court and we know leader reid will have to put some sweeteners into this bill to get a few republicans to sign on to get maybe some of the retiring republicans or those who are not -- well probably just retiring republicans since things have gone over the past few months in the senate. what things in this bill would you say would not get democratic support? what's off limits? >> what we're talking about now is the tax part of the fiscal cliff. as you know, the senate on a bipartisan basis has already passed a bill. so that has to be the foundation of more than the sena
cliff, which is the biggest portion of the fiscal cliff. the president has put many proposals on the table, as you know. speaker boehner walked away from the last proposal. hopefully this time will be different. the speaker has to allow the house to work its will, to have a majority vote here. he's not allowed us to have a vote on a senate-passed bill. hopefully he'll allow us to have an up or down vote on whatever comes out of this meet pg. >> now the ball is in the senate's court and we...
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starting with the fiscal cliff. it is so complicated and confusing, boehner saying the senate must go first. harry reid saying the u.s. is going over the cliff. consumer confidence numbers are down. markets are roiled, and it's not surprising people are worried. but now factor in as tim geithner said that the debt ceiling would be reached by the end of the year. $16.4 trillion. extraordinarily measures. now, what does extraordinary measures mean? suzanne, i'll tell you. it means literally robbing peter to pay paul. shifting the money around. so that you can actually keep paying the bills before you hit the ceiling. all in all, i can't remember an end of a year, suzanne, when we've had two so serious issues affecting the u.s. economy all at the same time. >> it is worrisome. i wonder, richard, do we have any sense of how the markets, the global markets, are even reacting to the potential, the possibility that we'd go over the cliff? >> reporter: yes. at the moment, it is quite clear they are holding their nose from t
starting with the fiscal cliff. it is so complicated and confusing, boehner saying the senate must go first. harry reid saying the u.s. is going over the cliff. consumer confidence numbers are down. markets are roiled, and it's not surprising people are worried. but now factor in as tim geithner said that the debt ceiling would be reached by the end of the year. $16.4 trillion. extraordinarily measures. now, what does extraordinary measures mean? suzanne, i'll tell you. it means literally...
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at least when it applies to sports. >> and fiscal cliff. which i think i've said a billion times already today. that is right up there. and i get that one. >> yeah, well, fiscal cliff. it involves economics, it involves politics. a lot of people think it's going to increase the deficit, which it isn't. a lot of people are worried it's going to decrease the deficit. so a lot of complicated issues and political issues. and we hear it all of the time. >> let's talk about lake superior state university and how this list compiling all began. >> it was a bet new year's eve, 1976. >> long ago. >> yep. and they discussed how many words and phrases are overused too often. and the originator of this list back in 1976 went back and drew up a list of five words to submit to upi, united press international. and the whole thing took off from there, and we take nominations from all over the world. whatever floats to the top gets to our list. >> and is i was going to ask how that happened. people can, what, make suggestions, somehow contact your university
at least when it applies to sports. >> and fiscal cliff. which i think i've said a billion times already today. that is right up there. and i get that one. >> yeah, well, fiscal cliff. it involves economics, it involves politics. a lot of people think it's going to increase the deficit, which it isn't. a lot of people are worried it's going to decrease the deficit. so a lot of complicated issues and political issues. and we hear it all of the time. >> let's talk about lake...
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the fiscal cliff, still looming. spending cuts and tax hikes that could shove our economy into recession. and a deadline lawmakers ignored until the very last possible minute. live pictures now of the capitol. looks beautiful. man, but there's a lot of wrangling going on there. lawmakers are back up -- had their backs up against the wall right now. and as they try to find a plan that can pass congress. let's hope they do. cnn's chief white house correspondent is jessica yellin. she is following the negotiations, working very hard on this saturday. so jess, democrats and republicans are supposedly working on a plan, even as we speak. what do we know about it? >> reporter: well, we know, don, that it's the senate leaders that are hashing this out. and what they're looking to negotiate is a deal that would extend current low tax rates for middle income americans. we don't know the exact threshold levels. so would it be people who make $400,000 and less, would it be $250,000 and less. but something that would extend low
the fiscal cliff, still looming. spending cuts and tax hikes that could shove our economy into recession. and a deadline lawmakers ignored until the very last possible minute. live pictures now of the capitol. looks beautiful. man, but there's a lot of wrangling going on there. lawmakers are back up -- had their backs up against the wall right now. and as they try to find a plan that can pass congress. let's hope they do. cnn's chief white house correspondent is jessica yellin. she is following...
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. >>> that fiscal cliff. we are at the very edge. senate leaders are working through the weekend trying to reach a deal before the deadline. today president obama called on lawmakers to meet their deadlines and responsibilities and forge a compromise to avoid tax hike and spending cuts from taking effect. lisa desjardins is live on capitol hill. what's going on right now? >> reporter: right now it's all behind closed doors, martin. what we just have learned in the last hour, in fact, what reporters have seen here, a surprise. house speaker john boehner was here at the capitol. we're still trying to sort out exactly why he was here, but he wasn't here for very long, it seems. he left in the last hour. also, we were able to see some of senator mcconnell's staffers. i was able to speak to one of them coming in and out of these kind of closed-door planning meetings. he said they've been here since 9:00 a.m. they plan to work all day and we may see his boss, senator mcconnell, later today. that shows us kind of where things stand. i wante
. >>> that fiscal cliff. we are at the very edge. senate leaders are working through the weekend trying to reach a deal before the deadline. today president obama called on lawmakers to meet their deadlines and responsibilities and forge a compromise to avoid tax hike and spending cuts from taking effect. lisa desjardins is live on capitol hill. what's going on right now? >> reporter: right now it's all behind closed doors, martin. what we just have learned in the last hour, in...
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the clock is ticking, literally, to the fiscal cliff. and as others have noted today, we have known about this cliff for 500 days. this is the world's most anticipatable political and economic problem. congress set this time bomb, now they are scrambling to defuse it before it goes off and threatens to take our economic recovery as a country and kick us back into recession. the fact this is happening in last-minute negotiations and great knew as dana bash reported that joe biden and mitch mcconnell seem to be backchanneling and got a constructive relationship in the past, this is great but this is all being done piecemeal and that fact shouldn't give anybody a great deal of confidence it is pathetic we are here at this hour facing the fiscal cliff. >> that's the point i wanted to raise with you. you obviously have followed congress. you know how all this inside trading works, so to speak. does it feel like the wheels are coming off that we are now off the script, that this is totally in territory we had not anticipated we would be at? >>
the clock is ticking, literally, to the fiscal cliff. and as others have noted today, we have known about this cliff for 500 days. this is the world's most anticipatable political and economic problem. congress set this time bomb, now they are scrambling to defuse it before it goes off and threatens to take our economic recovery as a country and kick us back into recession. the fact this is happening in last-minute negotiations and great knew as dana bash reported that joe biden and mitch...
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i will give you one guess but fiscal cliff. take a look at some of what was said. >> i'm interested in getting a result here. >> i remain hopeful, unrealist buc prospects of reaching a barn agree r >> beyond hope, do you think the chances are good? >> we are not there yet, trying to line up rubik's cube now, we are not there yet. >> the next 48 hours do we have a deal? >> no. >> no deal in the next 48 hours? >> no, i don't think so >> what happens after that? [ no audio ] >> i think the leadership is now working. it will probably be an immediate deal. in other words it is not going to solve all the problems forever, but it's gonna solve certain problems. >> what we are seeing here is monumental failure of presidential leadership. the president's the only person with a pen who can sign this and it is the president's responsibility to work on something the house will pass, the senate will pass and the senate will sing. he is outsourcing. this >> the president had put serious spending cuts on the table. answered speaker boehner, a
i will give you one guess but fiscal cliff. take a look at some of what was said. >> i'm interested in getting a result here. >> i remain hopeful, unrealist buc prospects of reaching a barn agree r >> beyond hope, do you think the chances are good? >> we are not there yet, trying to line up rubik's cube now, we are not there yet. >> the next 48 hours do we have a deal? >> no. >> no deal in the next 48 hours? >> no, i don't think so >> what...
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>> which one a tax reform deal or the fiscal cliff deal? >> no, the fiscal cliff deal, and what might they be arriving at in the next day or so? >> well, here is what we are hearing. i will believe none of it until i see it. >> right. >> the rates will go up for high income people, and we don't know how high income, president obama wants $250,000 as the threshold, but republicans are pushing for more than $400,000, but it is splitting hairs at a certain point and especially now in the 11th hour or less than 30 hours away from the deadline. so we will see that, and we hope that they are going to put an amt patch in to protect the middle-class in from playing the wealth year for tax year 2012 yet, and we are totally running out of time on that one, and we have a bunch of tax extenders for businesses and individuals and they have expired and will they extend those? and the payroll tax will certainly expire and nobody is talking about that. the first pay xhek in jcheck in will be smaller regardless because of that. >> and you are so good at giv
>> which one a tax reform deal or the fiscal cliff deal? >> no, the fiscal cliff deal, and what might they be arriving at in the next day or so? >> well, here is what we are hearing. i will believe none of it until i see it. >> right. >> the rates will go up for high income people, and we don't know how high income, president obama wants $250,000 as the threshold, but republicans are pushing for more than $400,000, but it is splitting hairs at a certain point and...
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>> no vote tonight on the fiscal cliff. what are the chances of lawmakers cobbling a compromise tomorrow? would real pain start to hit everyone in the form of tax hikes and spending cuts? what other options do lawmakers have as a last resort. steven moore joins us from washington. steven is a senior economics writer with "the wall street journal." he writes op-eds. he's involved in the opinion pages. he's also a co-founder of the organization called club for growth, which has really been at the forefront of fighting tax increases across the board. so, you know, sometimes, steven, on tv we talk about grover norquist and a lot of people really don't like him. you think grover has the right idea. you have colleague es in the senate, in the house of representatives. we have talked about this endlessly for many months and we both sort of went into the last few days thinking they'll get a deal, they'll do it. it will increase some tacks on the rich and we'll figure out a number. i think both of us put forward it would be $500,000
>> no vote tonight on the fiscal cliff. what are the chances of lawmakers cobbling a compromise tomorrow? would real pain start to hit everyone in the form of tax hikes and spending cuts? what other options do lawmakers have as a last resort. steven moore joins us from washington. steven is a senior economics writer with "the wall street journal." he writes op-eds. he's involved in the opinion pages. he's also a co-founder of the organization called club for growth, which has...
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now, let's switch to the fiscal cliff. and what that is going to cost you. without a deal, you'll be paying lots more in tachxes. say you're single and working hard, you don't have kids, you earn $80,000 a year. if it does not go into effect, you'll pay an additional $3,000 more than what you already pay in taxes. the middle class families will get hit harder, two kids, both parents work. together you earn $80,000 a year. guess what, if there is no deal, you would owe $6,000 more in taxes next year. with so many variables, the question is how is wall street reacting? the stock market dipped every day last week. question is, what is next? alison kosik is there for us at the new york stock exchange. alison, business leaders fed up with the lack of progress. but now that they say a deal is in sight, a good thing, how are investors reacting to congress', well, ineffectiveness, let's say. >> exactly. so this is definitely a market day where it is reacting to all these headlines coming out. we saw the market go up a bit when new
now, let's switch to the fiscal cliff. and what that is going to cost you. without a deal, you'll be paying lots more in tachxes. say you're single and working hard, you don't have kids, you earn $80,000 a year. if it does not go into effect, you'll pay an additional $3,000 more than what you already pay in taxes. the middle class families will get hit harder, two kids, both parents work. together you earn $80,000 a year. guess what, if there is no deal, you would owe $6,000 more in taxes next...
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the nation inching closer to this fiscal cliff. we could be just hours away from seeing all of our paychecks shrink. we're following all the last minute drama to avoid that, of course. brianna keilar is covering this morning's urgent talks happening in washington. christine romans is here to talk about the impact first, and alison kosik with how investors are reacting this hour. >>> first, another story. the health condition of the nation's top diplomat. this morning secretary of state hillary clinton is waking up now in a new york hospital. she is being treated for a blood clot that formed after her fall and concussion that happened a few weeks ago. want to bring in dr. sanjay gupta, our chief medical correspondent. sanjay, explain this for us because, first of all, when you think about it, she developed this blood clot related to a concussion. you would think maybe the clot formed in the brain, but that's not necessarily the case. >> no, it's not necessarily the case. and i think saying it's related to the concussion, that may be
the nation inching closer to this fiscal cliff. we could be just hours away from seeing all of our paychecks shrink. we're following all the last minute drama to avoid that, of course. brianna keilar is covering this morning's urgent talks happening in washington. christine romans is here to talk about the impact first, and alison kosik with how investors are reacting this hour. >>> first, another story. the health condition of the nation's top diplomat. this morning secretary of state...
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is the big fiscal cliff deadline. there are two fronts we are watching today. capitol hill and wall street. let's see if there's any movement on capitol hill. stock markets moving up because it's a little erratic. dana bash is watching that live for us. dana, last hour you were saying progress is being made. now you've been hearing rumblings on the opposite from the far left. what are you hearing now? >> very interesting. we have been hearing from both sides of the aisle that part of the big issue has been to get over objections from conservative republicans who are not going to be happy with any potential deal. i just spoke with tom harkin who is a democrat being from iowa. and he's also a leading progressive. he said that he and other progressives might be the ones object or to try to stop any potential deal. the reason he says he's so upset is because he does not like the idea that we have been reporting of keeping the tax cuts in place of income levels up to $450,000. he believes that's too high. the president, as we know, campaigned with a lot of democrati
is the big fiscal cliff deadline. there are two fronts we are watching today. capitol hill and wall street. let's see if there's any movement on capitol hill. stock markets moving up because it's a little erratic. dana bash is watching that live for us. dana, last hour you were saying progress is being made. now you've been hearing rumblings on the opposite from the far left. what are you hearing now? >> very interesting. we have been hearing from both sides of the aisle that part of the...
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i'm christine romans following fiscal cliff all day and night. ashleigh banfield returning tomorrow. "newsroom with suzanne malveaux" starts right now. >>> welcome back to "cnn newsroom." here's what's going on right now. ♪ >>> 2013 hitting right now in bangkok, thailand. we're looking at live pictures there as the celebrations and the fireworks exploding there. lots of picture-taking and a lot of excitement there. right now pope benedict holding a new year's eve mass at st. peter's basilica. they will celebrate the new year in six hours. a couple of hours ago folks toasted 2013 in new zealand. check it out. >> pretty cool. party started with fireworks with the auckland sky it tower. organizers were worried bad weather would be a problem, but everything turned out just fine. congratulations. the second major city to ring in the new year, sydney, australia. check it out. wow, that is over city harbor bridge. the show is huge. we are talking about seven tons of fireworks. happy new year's all around. >>> of course, we are waiting as well when the
i'm christine romans following fiscal cliff all day and night. ashleigh banfield returning tomorrow. "newsroom with suzanne malveaux" starts right now. >>> welcome back to "cnn newsroom." here's what's going on right now. ♪ >>> 2013 hitting right now in bangkok, thailand. we're looking at live pictures there as the celebrations and the fireworks exploding there. lots of picture-taking and a lot of excitement there. right now pope benedict holding a new...
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it is like, my god, the fiscal cliff, the fiscal cliff. we'll deal with it in two months. jessica yellin, so much more to talk to you about. we'll check in later, but thanks so much. >>> as we wait for republicans and democrats to come to the microphones, one democrat just left the meeting, he's going to be joining us next. sten to thesy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. to volunteer to help those in need. when a twinge of back pain surprises him. morning starts in high spirits, but there's a growing pain in his lower back. as lines grow longer, his pain continues to linger. but after a long day of helping others, he gets some helpful advice. just two aleve have the strength to keep back pain away all day. today,
it is like, my god, the fiscal cliff, the fiscal cliff. we'll deal with it in two months. jessica yellin, so much more to talk to you about. we'll check in later, but thanks so much. >>> as we wait for republicans and democrats to come to the microphones, one democrat just left the meeting, he's going to be joining us next. sten to thesy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i...
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fiscal cliff negotiations for throwing a wrench in expanding his franchise. he started a business and now has about 50 employees. >> i'm just frustrated and i'm angry and i just want to move on and grow our business and help to support the economy and all of the people that we employ. but instead we're just on hold here. >> reporter: with so many sectors of the economy bracing for financial pain, patience has worn thin. >> this whole fiscal cliff mess shows how incredibly out of touch you are with the way people really live in this country. you are off in la la land and everyone is saying how you're acting like a bunch of spoiled brat who is are r more interested in being right than in doing the the right thing and representing the people who elected you. >> reporter: mary snow, cnn, new york. >>> i'm joe johns. thanks for joining us. cnn newsroom continues now with ashlee banfield. >> we went over the fiscal cliff. yep at midnight and then just a couple hours later, the senate came up with a solution. now it's off to the house. the house has to sign off. the
fiscal cliff negotiations for throwing a wrench in expanding his franchise. he started a business and now has about 50 employees. >> i'm just frustrated and i'm angry and i just want to move on and grow our business and help to support the economy and all of the people that we employ. but instead we're just on hold here. >> reporter: with so many sectors of the economy bracing for financial pain, patience has worn thin. >> this whole fiscal cliff mess shows how incredibly out...
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this year it's the fiscal cliff. and it just seems like they can't get their act together year after year. it's frustrating to sit here and, you know, watch it happen over and over again. especially we're all students so it affects us a lot. it's really frustrating. >> julie, do you see yourself maybe changing your mind about who you necessary pily vote for the next election based on how members of congress handled the situation? >> actually no. i feel a lot of this has come from the partisanship which is creating the gridlock. i think the far right of the republican party's holding congress hostage to a point. mitch mcconnell says he wants to strike a deal. think about it, history states they've been the party of no. he said from the beginning if obama wants it, why are we going to do it? at the end of the day congress can sit around but these directly affect us. as students, think about the division tax breaks, things will go away and affect my family. within i look at congress, i see it's shifted to one side. i do
this year it's the fiscal cliff. and it just seems like they can't get their act together year after year. it's frustrating to sit here and, you know, watch it happen over and over again. especially we're all students so it affects us a lot. it's really frustrating. >> julie, do you see yourself maybe changing your mind about who you necessary pily vote for the next election based on how members of congress handled the situation? >> actually no. i feel a lot of this has come from...